Nepse fails to boost investor confidence, daily turnover falls below 2 billion rupees on Thursday – myRepublica

KATHMANDU, March 31: The Nepal Stock Exchange (Nepse) fell by 23.95 points on Thursday as the amount of one-day turnover also fell to 1.89 billion rupees after banks failed to managed to improve their liquidity position even at the end of the third quarter of this year.

According to Nepse, the market which opened at 2,568.25 points gained around 16 points in the first few minutes of intraday trading. However, the secondary market went into a tailspin, down double-digit points to close at 2,544.30 points.

Apart from trading, the indices of the other 12 groups fell on the last trading day of the week. The sensitive index that measures the performance of category “A” companies also fell by 4.6 points.

A stockbroker said a gain of more than 40 points on Wednesday, after three straight days of declines in the secondary market, could not boost investor confidence due to the continued shortage of loanable funds from banks. As a result, the single-day trade amount also dropped by 16% from the previous day.

Emerging Nepal Limited made the largest trade in its shares worth Rs 92.38 million, while the company also recorded the largest percentage gain in its share price. The Narayani Development Bank was the biggest loser.

About Alexander Estrada

Check Also

SBCorp launches new P7-B loan facility for MSMEs – Manila Bulletin

Small Business Corporation (SBCORP), the microcredit arm of the government, is launching a versatile RISE …